The Way To Wealth

At the end of the essay, Poor Richard observes Father Abraham’s audience disperse after he has finished talking. Lamentably, the crowd immediately begins to spend money, ignoring all of Father Abraham’s advice to live frugally and to avoid going into debt while feeding one’s own vanity. In response to the crowd’s actions, Poor Richard decides not to follow through with his own intended purchase of a new coat; instead, he decides to wear his old coat a little bit longer.

Poor Richard’s old coat represents frugality and modesty, values that are celebrated in this essay. The old coat is perfectly serviceable, the reader can assume, as Poor Richard decides to keep wearing it, so therefore, it should be used a little while longer. As well, the reader can deduce that Poor Richard has successfully resisted the pressure of his own vanity. Although a new coat would be preferable to Poor Richard, as a man who is recognized when he is out in public, his old coat will suffice. The fact that humility and frugality have won, defeating vanity, can be understood as a hopeful message from Benjamin Franklin himself. Although most people may in fact ignore his practical advice, not everyone will disregard his message. Many, like Poor Richard, will remember that spending money on unnecessary items is an act of vanity, not practicality and wisdom.